Have you heard of Verizon Selects? It’s a new data collecting initiative from the carrier’s Precision Marketing portfolio that seeks to collect consumer info for targeted ads. It’s completely optional, but Verizon knows exactly what will make consumers give up their personal info – a coupon.

Verizon will begin sending messages out to its customers this week asking them to sign up for the Verizon Selects program. It’s entirely optional and the carriers says that opting out of the program will carry no consequences – negative or otherwise. Those who do opt in will get a coupon to an unnamed retailer.

Let’s say you opt into Verizon’s data collection service. Here’s what Verizon says they’ll be doing with your personal information:

Simply put, Verizon Selects will use location, web browsing and mobile application usage data, as well as other information including customer demographic and interest data, to create specific insights. Verizon Selects analyzes this information about customers to see whether they fit into certain audiences Verizon or third party marketers are trying to reach. Depending on the results, participating customers will receive marketing messages or offers that may be of more interest to them than what they see or receive today. These messages could be delivered in various ways such as email, text, postal mail or online or mobile advertising.

Verizon notes that it will not share any personally identifying information with anybody outside of the company. That’s vague, and kind of scary considering that law enforcement is trying to push for greater access to mobile carriers’ records, especially SMS.

Regardless, it’s entirely optional at this point. If a coupon is worth a company potentially making millions off of your personal information, you can sign up for Verizon Selects here. Concerned customers can also opt out of it and other targeted ad networks at the above link.

[h/t: Droid Life]